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First Real Estate Investment of New Jersey
(OTC:FREVS)
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Rating:63Neutral
Price Target:
$22.50
â–²(6.38% Upside)
Action:Reiterated
Date:08/07/26
The score is driven primarily by decent underlying financial performance with strong recent cash conversion, but tempered by historical volatility and uncertainty around the durability of the improved leverage profile. Corporate events are a notable positive due to the liquidation plan and asset sale value realization, while technicals are neutral and valuation is a meaningful headwind due to the high P/E and modest yield.
Positive Factors
Cash flow quality
Recent TTM cash generation where free cash flow covers net income indicates earnings are backed by real cash, supporting sustainable distributions and funding asset dispositions without immediate external financing. Over months this bolsters flexibility for liquidation and reinvestment despite historical volatility.
Negative Factors
Earnings and margin volatility
Large swings in historical earnings and margins reduce confidence in recurring income and make forecasting distributions or operating performance difficult. For a REIT, such volatility often reflects timing of one-off gains and property-level events, increasing the risk that cash available to equity holders will fluctuate materially.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash flow quality
Recent TTM cash generation where free cash flow covers net income indicates earnings are backed by real cash, supporting sustainable distributions and funding asset dispositions without immediate external financing. Over months this bolsters flexibility for liquidation and reinvestment despite historical volatility.
Read all positive factors
First Real Estate Investment of New Jersey (FREVS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$159.60M
Dividend Yield1.87%
Average Volume (3M)727.00
Price to Earnings (P/E)44.3
Beta (1Y)0.11
Revenue Growth3.45%
EPS Growth-79.51%
CountryUS
Employees22
SectorReal Estate
Sector Strength53
IndustryREIT - Diversified
Share Statistics
EPS (TTM)0.48
Shares Outstanding7,482,432
10 Day Avg. Volume276
30 Day Avg. Volume727
Financial Highlights & Ratios
PEG Ratio-0.37
Price to Book (P/B)2.95
Price to Sales (P/S)3.43
P/FCF Ratio16.90
Enterprise Value/Market Cap1.65
Enterprise Value/Revenue8.82
Enterprise Value/Gross Profit99.55
Enterprise Value/Ebitda21.99
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
First Real Estate Investment of New Jersey Business Overview & Revenue Model
Company Description
First Real Estate Investment Trust of New Jersey, a publicly traded REIT (Real Estate Investment Trust) established in 1961 and listed over-the-counter with the symbol FREVS, manages a collection of residential and commercial assets. These propert...
How the Company Makes Money
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First Real Estate Investment of New Jersey Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
58
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Oct 2025 | Oct 2024 | Oct 2023 | Oct 2022 | Oct 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 29.93M | 29.32M | 28.68M | 28.34M | 31.27M | 50.29M |
| Gross Profit | 2.65M | 9.14M | 22.69M | 11.65M | 25.07M | 42.23M |
| EBITDA | 12.01M | 12.18M | 11.40M | 10.35M | 10.89M | 22.80M |
| Net Income | 3.56M | 3.51M | 15.85M | 760.00K | 45.99M | -9.95M |
Balance Sheet | ||||||
| Total Assets | 148.65M | 149.87M | 162.26M | 159.12M | 178.65M | 346.11M |
| Cash, Cash Equivalents and Short-Term Investments | 35.48M | 36.10M | 44.17M | 14.55M | 49.58M | 35.89M |
| Total Debt | 119.94M | 120.78M | 128.07M | 137.06M | 138.07M | 299.88M |
| Total Liabilities | 123.62M | 124.17M | 136.08M | 140.64M | 153.91M | 314.15M |
| Stockholders Equity | 34.24M | 34.04M | 33.36M | 24.52M | 25.91M | 36.57M |
Cash Flow | ||||||
| Free Cash Flow | 6.79M | 5.94M | 18.92M | 1.39M | 5.75M | 10.28M |
| Operating Cash Flow | 6.60M | 6.25M | 20.16M | 2.68M | 7.32M | 12.22M |
| Investing Cash Flow | 6.32M | 11.54M | -6.11M | -25.31M | 249.69M | -1.79M |
| Financing Cash Flow | -11.15M | -15.49M | -13.19M | -17.51M | -237.55M | -10.90M |
First Real Estate Investment of New Jersey Technical Analysis
Positive
21.15
Price Trends
21.33
Positive
18.71
Positive
16.00
Positive
Market Momentum
0.07
Positive
58.53
Neutral
46.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FREVS, the sentiment is Positive. The current price of 21.15 is below the 20-day moving average (MA) of 21.34, below the 50-day MA of 21.33, and above the 200-day MA of 16.00, indicating a bullish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 58.53 is Neutral, neither overbought nor oversold. The STOCH value of 46.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FREVS.
First Real Estate Investment of New Jersey Risk Analysis
First Real Estate Investment of New Jersey disclosed 16 risk factors in its most recent earnings report. First Real Estate Investment of New Jersey reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Real Estate Investment of New Jersey Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $6.68B | 24.06 | 6.37% | 3.83% | 22.73% | 7.26% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | $4.04B | 27.95 | 5.00% | 5.21% | 6.71% | 46.35% | |
63 Neutral | $159.60M | 44.26 | 10.45% | 1.88% | 3.45% | -79.51% | |
59 Neutral | $2.08B | -33.41 | -0.84% | 8.56% | -29.60% | 77.14% | |
58 Neutral | $522.71M | 16.75 | 10.50% | 7.16% | 9.52% | 21.63% |
* Real Estate Sector Average
FREVS
First Real Estate Investment of New Jersey
21.45
7.49
53.66%
OLP
One Liberty Properties
24.23
3.25
15.51%
NXDT
NexPoint Diversified Real Estate Trust
5.11
1.57
44.27%
GNL
Global Net Lease
8.76
1.90
27.77%
EPRT
Essential Properties Realty
31.06
1.87
6.40%
BNL
Broadstone Net Lease
21.39
5.63
35.74%
First Real Estate Investment of New Jersey Corporate Events
Executive/Board ChangesShareholder Meetings
First Real Estate Investment Trust Announces Shareholder Approvals
Positive
Aug 7, 2026
At the annual meeting of stockholders held on August 6, 2026, First Real Estate Investment Trust of New Jersey, Inc. reported that shareholders re-elected directors Robert S. Hekemian, Jr. and David F. McBride to new three-year terms, signaling co...
Dividends
First REIT of New Jersey Declares Quarterly Dividend
Neutral
Jul 17, 2026
On July 16, 2026, First Real Estate Investment Trust of New Jersey, Inc.’s board declared a third quarter fiscal 2026 dividend of $0.10 per share on its common stock. The dividend will be paid on September 14, 2026 to shareholders of record ...
Business Operations and StrategyM&A Transactions
FREIT Sells Franklin Crossing Center, Recycles Capital
Positive
Jul 9, 2026
On July 8, 2026, First Real Estate Investment Trust of New Jersey closed the sale of its Franklin Crossing shopping center in Franklin Lakes, N.J., to an affiliate of Regency Centers Corporation for $27 million, generating net proceeds of about $2...
Business Operations and StrategyM&A Transactions
First Real Estate Trust to Sell Westwood Plaza Center
Neutral
May 27, 2026
On May 26, 2026, First Real Estate Investment Trust of New Jersey, Inc. agreed to sell 100% of its ownership interest in the Westwood Plaza shopping center in Westwood, N.J., to an affiliate of Regency Centers Corporation for $28.8 million, with a...
Business Operations and StrategyShareholder Meetings
FREIT Board Approves Plan for Voluntary Liquidation
Positive
May 14, 2026
On May 12, 2026, First Real Estate Investment Trust of New Jersey’s board unanimously approved a plan of voluntary liquidation and dissolution, subject to a shareholder vote expected in fall 2026. The move follows a third amendment to its ma...
Business Operations and StrategyRegulatory Filings and Compliance
First Real Estate Trust Extends Stockholder Rights Agreement
Positive
May 14, 2026
On May 12, 2026, First Real Estate Investment Trust of New Jersey, Inc. amended its Stockholder Rights Agreement with Computershare Trust Company, N.A., extending the agreement’s term and Final Expiration Date from July 31, 2026 to July 31, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.